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October 1, 2022

ROCA Industry concludes the first half of the year with a 122 million RON turnover

 While the 4 companies in their portfolio marked a cumulative EBITDA 21% higher compared to H1 2021

ROCA Industry, a holding company integrating the building materials businesses in the ROCA Investments portfolio, reached a turnover of RON 122.5 million (over 25million €), following the consolidated results announced for the first half of the year. The Romanian Holding is planning to not only strengthen its companies but also to expand its portfolio, including offshore businesses, despite the difficult market situation and global downturn.

The cumulative EBITDA of the four companies included in the portfolio increased by 21% in H1 this year compared to the same period in 2021. The holding company has reported increased results, partly due to higher sales revenues and improved performance in the companies and partly reflecting the expansion of their operations through new acquired companies.

“The results achieved in the first part of the year, virtually the first semester since we launched this holding, reveal that we are following the right direction and that our business model has the power to contribute to the development of Romanian brands and the reindustrialization of Romania. Under the supervision of the holding company, the subsidiaries will enter the strategic development phase in the coming months, a phase that is primarily based on immediate and short-term economic realities. We focus on agile management in our subsidiaries and also on investments in innovation and new product development. We are targeting more resilient markets at this point in time and definitely towards creating new synergies between the holding entities” stated Ionuţ Bindea, Investment Manager ROCA Investments, Chairman of the Board of Directors and Interim General Director of ROCA Industry.

The second quarter generated the largest share of revenue, 64% at consolidated level. At the meantime, EBITDA was 15 million RON (13% margin) in H1, after 4 million RON (9%) in Q1, while consolidated net profit reached 5.4 million RON, of which 5.2 million in Q2 alone. A major contribution to holding’s results was the evolution of Sarcom, with an EBITDA of 3.9 million RON in Q2, compared to 0.65 million RON in Q1.

At the aggregate level (individual company performances), revenues were 162.8 million RON in the first half of the year, of which 55% achieved the second quarter, EBITDA was 16.3 million RON (70% higher in Q2 than in Q1), and net profit reached 10.4 million RON (of which 6.9 million in Q2).

Hence, during the first six months of this year, all companies in the portfolio performed above the level achieved in the first half of 2021 and recorded increases in turnover between 17% and 64%.

Launched in December and listed on the stock exchange in January, ROCA Industry has gradually expanded its presence in the building materials industry, bringing four completed acquisitions and two currently in the process of completion. Starting from Q1 2023 management expects to be able to expand the portfolio of companies in a more active manner.

“Our holding business experienced a very exciting phase in the first half of the year and we have laid the foundations for a long-term, comprehensive development in the building materials industry. Of course, we are looking to further expanding through new acquisitions, and we expect to be more active in this area from the first quarter of next year. We look for opportunities, no matter where they are, and are constantly screening the market and the potential of this strategic industry.”, added Ionuţ Bindea.

At the moment, ROCA Industry includes in their portfolio the following companies: BICO Industries (70%), Sarcom (100%), Terra (100%) and Eco Euro Doors (70%), expecting a full takeover of Dial and the acquisition of 77.5% of the share capital of Iranga Technologijos (Lithuania) to be completed until the end of the year.

Incorporation of Iranga, from Lithuania, is the second transaction performed internationally, the first one being Terra, from Republic of Moldova.

ROCA Industry HOLDINGROCK1 S.A. is traded on the AeRO market of the Bucharest Stock Exchange, having the symbol ROC1.

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